ARP Americas LLC bought a new position in shares of Akorn, Inc. (NASDAQ:AKRX) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 142,703 shares of the company’s stock, valued at approximately $4,786,000. Akorn comprises 1.3% of ARP Americas LLC’s investment portfolio, making the stock its 24th largest position. ARP Americas LLC owned 0.11% of Akorn at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. BlackRock Inc. raised its stake in shares of Akorn by 12,960.9% in the first quarter. BlackRock Inc. now owns 9,080,983 shares of the company’s stock worth $218,671,000 after buying an additional 9,011,455 shares during the period. Vanguard Group Inc. raised its stake in shares of Akorn by 4.0% in the first quarter. Vanguard Group Inc. now owns 6,945,369 shares of the company’s stock worth $167,245,000 after buying an additional 267,203 shares during the period. William Blair Investment Management LLC raised its stake in shares of Akorn by 8.0% in the first quarter. William Blair Investment Management LLC now owns 4,492,169 shares of the company’s stock worth $108,171,000 after buying an additional 333,086 shares during the period. FMR LLC raised its stake in shares of Akorn by 54.0% in the first quarter. FMR LLC now owns 3,560,997 shares of the company’s stock worth $85,748,000 after buying an additional 1,249,329 shares during the period. Finally, Columbia Wanger Asset Management LLC raised its stake in shares of Akorn by 127.5% in the first quarter. Columbia Wanger Asset Management LLC now owns 2,682,821 shares of the company’s stock worth $64,602,000 after buying an additional 1,503,366 shares during the period. Institutional investors and hedge funds own 75.04% of the company’s stock.

Akorn, Inc. (NASDAQ:AKRX) opened at 33.47 on Friday. The firm has a 50-day moving average of $33.55 and a 200 day moving average of $28.49. The company has a market cap of $4.18 billion, a PE ratio of 33.81 and a beta of 1.36. Akorn, Inc. has a 52-week low of $17.61 and a 52-week high of $35.40.

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AKRX has been the subject of a number of recent research reports. Piper Jaffray Companies downgraded shares of Akorn from an “overweight” rating to a “neutral” rating and boosted their price objective for the company from $29.00 to $34.00 in a research report on Tuesday, April 25th. Zacks Investment Research raised shares of Akorn from a “sell” rating to a “hold” rating in a research report on Monday, May 8th. Royal Bank Of Canada set a $34.00 price objective on shares of Akorn and gave the company a “hold” rating in a research report on Tuesday, June 27th. TheStreet downgraded shares of Akorn from a “b-” rating to a “c” rating in a research report on Tuesday, August 1st. Finally, Gabelli reaffirmed a “hold” rating on shares of Akorn in a research report on Tuesday, April 25th. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the company’s stock. Akorn presently has a consensus rating of “Hold” and a consensus target price of $28.56.

About Akorn

Akorn Inc (Akorn), together with its subsidiaries, is a specialty generic pharmaceutical company that develops, manufactures and markets generic and branded prescription pharmaceuticals, as well as private-label over-the-counter (OTC) consumer health products and animal health pharmaceuticals. The Company operates through two segments: Prescription Pharmaceuticals and the Consumer Health.

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Institutional Ownership by Quarter for Akorn (NASDAQ:AKRX)

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